MANILA, Philippines — The Philippines would remain as an attractive destination for business process outsourcing (BPO) post-pandemic due to competitive wages and a mature BPO sector, acting Socioeconomic Planning Secretary Karl Chua said. Interviewed on The Chiefs aired on One News Thursday night, Chua said despite the possibility that more multinational firms may onshore their […]
Read MoreBSP still confident of full-year growth MANILA, Philippines — Remittances from overseas Filipino workers (OFWs) fell to their lowest level in eight months last February, but the Bangko Sentral ng Pilipinas (BSP) remains confident of positive growth this year amid the coronavirus disease 2019 or COVID-19 pandemic. The central bank yesterday reported that personal remittances […]
Read MoreMANILA, Philippines — A month before migrant workers began coming home in droves, money sent to their families showed some signs of slowdown in February as the country’s top dollar-earning sector begins to feel the bite of the pandemic. Cash remittances coursed through banks stood at $2.36 billion in February, up 2.5% year-on-year from same period a […]
Read MoreMANILA, Philippines — The Philippines is expected to become the world’s largest rice importer until 2021as local production will continue to decline. In the latest report of the United States Department of Agriculture-Foreign Agricultural Service, imports will slightly decline this year but will pick up again next year. Rice imports are seen to fall by […]
Read MoreMANILA, Philippines — The extension of the strict community quarantine in key economic areas in the Philippines until the end of the month will delay the country’s economic recovery, London-based think tank Capital Economics said. The government announced on Tuesday that Metro Manila, Cebu City and Laguna – considered high-risk areas for the coronavirus disease […]
Read MoreMANILA, Philippines — Over-the-counter banking will be among the casualties of the coronavirus disease 2019 (COVID-19) in the Philippines. A decline of up to 50% in branch-based operations can be expected in the wake of this pandemic. The effects of the nation’s collective trauma from this experience will persist long after the last patient recovers and […]
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